When I first got into crypto I researched earning passive income by cryptocurrency mining and cloud mining and quickly realized you:
-Need capital to get started
-Need specialized equipment
-Need to be tech savvy
-Most cloud mining programs are a scam.
So until recently I wrote off crypto mining and focused on learning and deploying my limited time and capital to other aspects of the industry.
Enter Honeyminer
Two prominent crypto twitter personalities I follow, @coinyeezy and @nondualrandy,(Really cool dudes BTW) launched a free crypto mining program that does not require any of above, and is legit.
Honeyminer makes mining easy for noobs and people that lack the specialized computer equipment and know how needed for crypto mining. Honeyminer gives you free access to a sophisticated cryptocurrency mining software in return for a small share of the total mining earnings generated by your computer. If you have just a good gaming computer you can earn some nice sathoshis passively. If, like me, you are running it on an old "computer" your earnings will be less. But, everyone earns, regardless of the type of computer you have.
How it Works
Honeyminer identifies the most profitable currency to mine at any given moment based on your computer’s specs and the difficulty of each blockchain. Honeyminer auto-converts the crypto you mined to Bitcoin and credits your account with that Bitcoin. Honeyminer plans on giving users the option to select what crypto to mine and to not auto-convert to Bitcoin so you can earn your favourite altcoins passively, but that is not functional yet. You then transfer all your earnings to any wallet or exchange.
Gamification of Mining
Gamification has taken over everything, including mining. Honeyminer has gamified its program to reward frequent users. The more time you have the program running, the more experience points you earn to level up. Each time you level up, your account gets a bonus of some free satoshis.
Pros:
-Easy to download and set up a few clicks and you're away
-Free to use
-Low commissions
-Active Telegram channel
-Can run on any electrical device post 1900 (Except Mac)
Cons:
-It wont get you a lambo overnight. Gains are slow but persistent.
-Honeyminer displays your current day’s earnings and past two day’s earnings, but it does not sync to your timezone, so that can be confusing.
-Gains have to be made through Bitcoin for the moment.
Conclusion
When Bitcoin was taken over by ASICs a piece of its soul died. There was something kind of cool about being able to contribute to a global network even if it was just in a tiny way. You felt as if you were part of something bigger. I kind of get a similar feeling about Honeyminer. Putting mining back into the hands of the people, not big mining corps.